South Korea’s KNOC closes in on 90% control in $2.9 billion takeover of Dana

摘要

Singapore-South Korea’s state-run KNOC now controls 89.17% of the shares of the UK’s Dana Petroleum and October 11 urged the company’s remaining shareholders to accept its takeover offer. KNOC on September 24 won its $2.9 billion hostile bid for Dana, when 64.26% of Dana’s shareholders accepted the South Korean company’s GBP18/share offer.